What Is the Average Cost of Engagement Ring in 2010?

What's the Average Cost of an Engagement Ring in 2010?

The very first expense on the path to marriage is usually the proposal, which commonly comes with a ring, the little piece of jewelry which garners oohs and aahs. It's always interesting to see how much other couples are spending on their rings, so guess what people have been spending on average on an engagement ring last year?

Don't be mislead by this data. This # is most likely based on the mean average, which would be skewed (read: inflated) by some of the more extravagant rings out there. A better reflection of average here would be the median. Although I'm sure jewelers would love it if people all thought this the most common price paid for an engagement ring...
Additionally, this probably does not consider other confounding variables such as alternative rings (e.g., sapphire, vintage), inherited rings, and volume of engagement rings purchased relative to other years (probably a down year due to the economy -- so only the folks with good money were out buying).

If my boyfriend spent that much on a ring to propose to me with, I'd have to say no based on principal. He should've spent $300 or $400 on the ring, and saved the rest for the honeymoon! Seems like a waste of money to me.

My ring was about $700, and my wedding ring about the same. Both are gorgeous and couldn't be more perfect for me. I have friends with 10k rings, but I don't think I could handle knowing I had that much on my hand every day.